Turning Point Brands (NYSE:TPB) Shares Up 5.5% – What’s Next?

Shares of Turning Point Brands, Inc. (NYSE:TPB) shot up 5.5% during mid-day trading on Monday . The company traded as high as $60.78 and last traded at $60.61. 87,551 shares were traded during mid-day trading, a decline of 52% from the average session volume of 182,244 shares. The stock had previously closed at $57.46.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TPB shares. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark raised their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Oppenheimer started coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Finally, Craig Hallum raised their price objective on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Turning Point Brands presently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Performance

The business has a 50 day simple moving average of $59.75 and a 200 day simple moving average of $48.00. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.06 billion, a PE ratio of 23.90 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. Equities research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, December 20th. Turning Point Brands’s payout ratio is presently 11.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPB. Copeland Capital Management LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth $61,000. USA Financial Formulas purchased a new stake in Turning Point Brands during the 4th quarter worth approximately $73,000. The Manufacturers Life Insurance Company purchased a new position in shares of Turning Point Brands in the second quarter valued at approximately $209,000. Aigen Investment Management LP acquired a new stake in shares of Turning Point Brands in the third quarter worth approximately $221,000. Finally, Moran Wealth Management LLC acquired a new stake in Turning Point Brands during the 3rd quarter worth $236,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.